Oil Below $90 Despite Hormuz Closure: Why Prices Haven't Exploded Yet
🛢️ OIL MARKETS — Hormuz closed, Cushing dry. Brent still under $90. 📌 LOOK CLOSER: Dark fleet workarounds, Venezuelan intake, Asian demand destruction, and SPR releases are absorbing what should be a historic shock. Each buffer has a ceiling — Cushing is near empty, Venezuela can't scale, SPR is political. When one breaks, the deferred spike arrives compressed into days.